Foreign investment needed in India’s technical textiles

The current Indian technical textile sector has to develop a lot and this can be done only by Indian and foreign companies investing in this sector, Anant Kumar Singh, secretary, ministry of textiles, Government of India, has said. Globally, the demand for man-made fibre is on the rise and industries should focus more on man-made goods to reap the benefits.

“There are various initiatives that government has taken to liberalise the laws regarding investments which will help manufacturers to do business in India, Singh said at the TECHNOTEX 2018 – a Curtain Raiser programme organised by FICCI on the theme ‘Technical Textiles: Transforming India’.

TECHNOTEX 2018, scheduled on June 28-29, 2018 in Mumbai, will prove to be a turning point in building confidence of Indian and foreign companies to invest in the technical textile sector in India, Singh said.

During the event, the Event Brochure of Technotex 2018 and BIS Standards on Protective gloves for firefighters and Protective clothing for firefighters was also released.

Kavita Gupta, textile commissioner, ministry of textiles, highlighted that the government has already allowed 100 per cent FDI in the sector and this is an opportunity for foreign companies to invest in India.

Varghese Joy, scientist G & deputy director general, BIS, said that the Bureau of Indian Standards (BIS) is continuously working on adopting international standards to provide a friendlier environment to the industry.